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Gift City: Gujarat International Finance Tech-City (GIFT City) has launched GIFT International Fintech Institute (GIFT IFI) and Fintech Incubator and Accelerator. Established in collaboration with the Asian Development Bank (ADB), the platform is an important step in GIFT City’s journey to become a global hub for fintech education, innovation and start-up development. This initiative will strengthen the FinTech landscape and strengthen GIFT’s position as the preferred international hub for financial technology.
GIFT IFI will be managed by a consortium of Ahmedabad University, IIT Gandhinagar and University of California, San Diego. GIFT IFI will launch a training program in January 2025, which will equip professionals with the industry-specific skills required for the modern financial sector. The institute will equip the next generation with the skills needed to pursue careers in global finance. Along with this, GIFT IFIH aims to provide the necessary resources, expert guidance and networking opportunities to the start-ups. This will help them achieve success in the competitive fintech landscape.
Presenting GIFT City’s vision behind this initiative, Tapan Ray, MD & Group CEO, GIFT City, said, “The launch of GIFT IFI and GIFT IFIH is in line with GIFT City’s commitment to building a globally connected, enabling ecosystem. which supports diverse innovators and keeps India at the forefront. A fintech leader. An important achievement in the efforts.”
This initiative will create a vibrant and inclusive ecosystem that will foster fintech innovation and entrepreneurship, thereby strengthening India’s fintech sector. By focusing on skills enhancement, research support and start-up development, GIFT City aims to contribute to employment growth, workforce productivity and technological advancements in financial technology.
GIFT IFI and GIFT IFIH have been specifically designed to serve various important objectives that will shape the Fintech sector in India. Firstly, it will offer training programs at par with international industry standards and create an environment for start-up incubation and acceleration. There will be a special focus on supporting women entrepreneurs and fostering an inclusive ecosystem that fosters diverse talents and perspectives.
Additionally, the initiative will conduct applied research to create fintech solutions that bridge the gap between academic research and industry needs. The initiative will foster industry partnerships that will strengthen the region’s innovation capacity and competitiveness and enhance GIFT City’s reputation as a center of global fintech excellence.
Ahmedabad University Vice-Chancellor Professor Pankaj Chandra said the growth of India’s economy will be linked to financial intermediation, creation of new types of jobs, innovations in technology and business models in fintech. Ahmedabad University, IIT Gandhinagar and UC San Diego are committed to developing a comprehensive fintech ecosystem by bringing together their extensive institutional strengths to develop cutting-edge fintech training and educational programs at the International Fintech Institute.
“We are thrilled to bring Plug & Play’s global expertise to GIFT City,” said Manav Narang, IFH’s Program Lead and Head of Financial Services, Plug & Play APAC. Our vision is to build India’s largest industry-wise fintech event, a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators and ecosystem partners come together. Together we aim to create transformative FinTech solutions and nurture FinTech unicorns that will shape the future of finance in India.